News Release
TSX Group's Interim Co-CEO calls for national carbon market with full engagement of emitters
MARCH 13, 2008 (CALGARY) -- TSX Group Inc. Interim Co-CEO Rik Parkhill says TSX Group believes that a national emissions market that allows the price of carbon to vary with market conditions is the best solution for Canada. In a speech to the Calgary Chamber of Commerce today, Mr. Parkhill said, “At TSX Group we have, for a considerable time, looked at carbon trading as a market mechanism which holds great promise in supporting the reduction of carbon emissions.”
He added that a national solution, rather than provincial initiatives, is the preferred method to go. “A national market that is compatible over time with the U.S. and Europe will make it easier to facilitate carbon reductions by emitters at competitive transaction costs. Governments elsewhere are moving, some quickly, some strongly, many reluctantly to get ahead of the curve on this issue. Alberta, in fact, has been ahead of the curve in recognizing the greenhouse issues raised by the development of the oil sands, as well as coal.”
Mr. Parkhill believes the best approach for Canada is a market driven solution including a transparent, liquid and trustworthy trading system with the support of emitters. “I believe that the great opportunity lies in a national system that allows every part of Canada to share both the burdens and benefits of whatever we do on carbon emissions.”
Mr. Parkhill’s remarks are available on tsx.com.
About TSX Group Inc. (TSX-X)
TSX Group operates Canada's two national stock exchanges, Toronto Stock Exchange serving the senior equity market and TSX Venture Exchange serving the public venture equity market, Natural Gas Exchange (NGX), a leading North American exchange for the trading and clearing of natural gas and electricity contracts and Shorcan Brokers Limited, the country's first fixed income inter-dealer broker. TSX Group also owns The Equicom Group Inc., a leading provider of investor relations and related corporate communication services in Canada. TSX Group is headquartered in Toronto and maintains offices in Montreal, Calgary and Vancouver.
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Speech - Calgary Chamber of Commerce